National Foods Pakistan today announced financial result for the half year ending December 31st, 2018. The company release revealed a rise in sales during the period by more than 11% to clock in at 7.63 billion.
On the other hand, the company’s cost of sales grew in tandem of sales by 10%, at 5.017 billion. On the expenses front, company’s Administrative costs took a jump of more than 40% during the period, along with a 28% increase in Distribution costs.
In lieu with the increase in costs the bottom lien profits took a dip downward by more than 35%; standing at 288.602 million against 444.303 million during the same period last year.
The company reported an EPS of Rs. 2.79 vs. an EPS of Rs. 4.29 during half year ending December, 2016.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Half Year Ended, December 2017
Key Financials
2017
2016
% Change
Amounts in PKR ‘000
Sales
7,630,258
6,833,615
11.66%
Cost of Sales
5,017,397
4,551,407
10.24%
Gross Profit
2,612,861
2,282,208
14.49%
Distribution Costs
1,655,270
1,291,934
28.12%
Administrative Expenses
407,277
281,021
44.93%
Other Expenses
46,780
46,651
0.28%
Other Income
13,264
8,647
53.39%
Operating Profit
516,798
671,249
-23.01%
Finance Costs
49,164
29,467
66.84%
Profit before Taxation
467,634
641,782
-27.14%
Taxation
179,032
197,479
-9.34%
(Loss)/Peofit after Taxation
288,602
444,303
-35.04%
Other Comprehensive Income
–
–
Total Comprehensive Income for the period
288,602
444,303
-35.04%
(Loss)/EPS per share
2.79
4.29
-34.97%
Company release on Earnings Report can be accessed here.